search query: @indexterm Urban environment / total: 28
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| Author: | Hendershott, P. |
| Title: | Debt usage and mortgage choice: the FHA-conventional decision |
| Journal: | Journal of Urban Economics
1997 : MAR, VOL. 41:2, p. 202-217 |
| Index terms: | URBAN ENVIRONMENT ECONOMICS DEBT |
| Language: | eng |
| Abstract: | Purchase of a house requires three interrelated household financial decisions: what level of debt to obtain, whether to select an adjustable or fixed rate mortgage, and whether to choose an FHA or a conventional loan. While some have analyzed the mortgage debt decision and the ARM/FRM choice, virtually no one has studied the FHA/conventional mortgage choice or the interrelation among the mortgage debt and instrument decisions. In the sample of 819 young home purchases, debt and mortgage choice is driven by a need to finesse the downpayment and monthly payment constraint rations and to lower mortgage insurance costs. |
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